Reliance Securities: Currency And Bond Update - August 28, 2020
The portrait of Mahatma Gandhi is displayed on an Indian 2,000 rupee banknote in an arranged photograph in Thailand. (Photographer Brent Lewin/Bloomberg)

Reliance Securities: Currency And Bond Update - August 28, 2020

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Reliance Securities Report

The Indian rupee appreciated against the U.S. dollar this Thursday to a five-month supported by continuous portfolio inflows.

Lack of aggressive the Reserve Bank of India’s intervention in the market also triggered stop losses and helped the currency to appreciate above 74 levels this Thursday.

The rupee ended at 73.81 to the dollar against 74.30 on Wednesday.

The rupee had risen to an intraday high of 73.80 in the session, the highest since March 13, 2020.

The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 0.1% and 0.08% higher, respectively on Thursday.

The U.S. dollar index dollar gained on Thursday after Federal Reserve Chairman Jerome Powell said, as was widely expected, that the U.S. central bank would roll out an aggressive new strategy to lift U.S. employment and inflation.

Click on the attachment to read the full report:

Reliance Securities Currency & Bond Update - August 28, 2020.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

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